Employment in advertising, public relations and related services fell by 1,000 jobs in February, the fourth drop in the past six months.
For the overall economy, U.S. employers added 311,000 jobs in February, a pullback from January’s sizzling job growth but a better-than-expected number that demonstrates continued strength in the labor market, according to the monthly employment report from the U.S. Bureau of Labor Statistics.
The unemployment rate rose to 3.6% in February from a generation low of 3.4% in January.
Below, Ad Age Datacenter breaks down the report—by the numbers.
Datacenter
US ad employment fell by 1,000 jobs in February
After monthly ups and downs, ad staffing now is almost unchanged from where it was six months ago. Overall U.S. employment is still showing solid gains
Advertising, PR and related services
U.S. employment in the Bureau of Labor Statistics (BLS) classification of advertising, public relations and related services came in at 494,300 jobs in February based on seasonally adjusted figures.
The ad market lost 1,000 jobs in February following an increase of 2,000 jobs in January.
BLS upwardly revised the January figure from a preliminary gain of 1,400 jobs it reported a month ago.
Advertising employment has seesawed over the past six months: It fell in September, November, December and February; it rose in October and January.
After strong gains in 2021 through summer 2022 as the ad market rebounded from pandemic losses, ad employment has plateaued.
When all is said and done, ad staffing in February (494,300) was almost unchanged from September (494,000).
This BLS jobs bucket includes ad agencies, PR agencies and related services such as media buying, media reps, outdoor advertising, direct mail and other services related to advertising. Ad agencies account for the biggest portion—about 46%—of those jobs.
Ad agencies
U.S. ad agencies cut 700 jobs in January after trimming 1,100 jobs in December.
BLS revised the December figure from a preliminary loss of 1,600 jobs it reported a month ago.
Ad agency employment fell to 226,200 jobs in January on a non-seasonally adjusted basis, dropping for the third consecutive month after reaching an all-time high of 228,700 jobs in October.
A January drop was no surprise. Ad Age Datacenter’s analysis of BLS data shows that ad agency employment on a non-seasonally adjusted basis in January vs. December fell every year from 2001 through 2023.
BLS reports ad agency employment on a one-month lag, so February figures aren’t yet available.
Agencies including Interpublic Group of Cos.’ Huge have had layoffs since the start of the year amid signs of softness in the ad market.
Unemployment rate
The U.S. unemployment rate, based on a separate survey of households, rose to 3.6% in February from 3.4% in January.
January’s unemployment rate was the lowest since 1969.
February’s rate was a tick above the jobless level on the eve of the COVID-19 pandemic in February 2020 (3.5%).
U.S. employment
The nation in February added 311,000 jobs based on seasonally adjusted figures.
The economy added 504,000 jobs in January (downwardly revised from 517,000 jobs) and added 239,000 jobs in December (downwardly revised from 260,000 jobs).
Following an unprecedented loss of 20.5 million jobs in April 2020 as the nation locked down in the coronavirus pandemic, the economy has added jobs every month except for December 2020.
Total U.S. employment (155.4 million jobs in February) has recovered all of its pandemic losses, topping its February 2020 pre-pandemic peak (152.4 million) to reach a new all-time high.
The World Health Organization classified COVID-19 as a pandemic in March 2020.
Ad Age Datacenter subscribers can see an expanded and updated table showing advertising employment back to 2000 at AdAge.com/adjobs.
That table incorporates data revisions that BLS made in February 2023 in its annual benchmarking process and updating of seasonal adjustment factors. The table also reflects BLS revisions to industry classifications based on the 2022 North American Industry Classification System.
